Equalized Value definition

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Equalized Value means the assessed value of the property in the year that the transfer is made, divided by the Director’s Ratio. The Table of Equalized Valuations is promulgated annually on or before October 1 in each year pursuant to N.J.S.A. 54:1-35.1. Example: Assessed value = $1,000,000; Director’s Ratio = 80%. $1,000,000 ÷ .80 = $1,250,000. If Director’s Ratio is less than 100%, the equalized valuation will be an amount greater than the assessed value, if Director’s Ratio is in excess of 100% the assessed value will be equal to the equalized value.

Equalized Value means an amount equal to the product of (i) the value of such Property as assessed by the applicable taxing authority (or such other value or methodology used by the applicable jurisdiction to value Properties) and (ii) the Equalization Ratio, in any case, as of the date such Eligible Asset was acquired by an Eligible Asset Owner.

Examples of Equalized Value in a sentence

As a condition to entering into this Agreement, the City requires that Developer guaranty a minimum Equalized Value for the land and improvements related to the Project.
If the Equalized Value of the Property is less than the Guarantied Value any time on or after the Guarantied Value Date, the Developer shall be in Default under this Agreement.
If a Tax Increment Shortfall continues through the closing of the District, no further Equalized Value assessment calculations shall occur and no further Tax Increment Shortfall payment obligations of Developer shall arise after the District is closed.
If a Tax Increment Shortfall is owed to the City, then unless and until the Equalized Value of the Property increases to at least the Guarantied Value, for each January 1 following a Shortfall Event, that the Equalized Value of the Property is less than the Guarantied Value, Developer shall pay to the City an amount equal to the Tax Increment Shortfall for such calendar year.
If and when the Equalized Value of the Property as of any January 1 is equal to or greater than the Guarantied Value: (i) the Default related to non-compliance with the Guarantied Value requirement shall be deemed cured, (ii) no further January 1 assessment valuations shall occur or be required, and (iii) no Tax Increment Shortfall payment obligation shall be incurred for such year or any year thereafter, unless a new Shortfall Event occurs.
If a Tax Increment Shortfall continues through the closing of the District, no further Equalized Value assessment calculations shall occur and no further Tax Increment Shortfall payment obligations of Developer or the Guarantor shall arise after the District is closed.
By executing this Agreement, Developer hereby guaranties that, on and after December 31, 2025 (the “Guarantied Value Date”), the Equalized Value of the land and improvements on the Property shall at all times during the life of the District be at least the Guarantied Value.
If and when the Equalized Value of the Property as of any January 1 is equal to or greater than the Guarantied Value: (i) the Default related to non- compliance with the Guarantied Value requirement shall be deemed cured, (ii) no further January 1 assessment valuations shall occur or be required, and (iii) no Tax Increment Shortfall payment obligation shall be incurred for such year or any year thereafter, unless a new Shortfall Event occurs.
If a Tax Increment Shortfall is owed to the City, then unless and until the Equalized Value of the Property increases to at least the Guarantied Value, for each January 1 following a Shortfall Event, that the Equalized Value of the Property is less than the Guarantied Value, Developer and the Guarantor, shall pay to the City an amount equal to the Tax Increment Shortfall for such calendar year.
Buyer is aware that taxes can increase based on a new State Equalized Value, sales price, assessments, Principal Residence Exemption status or tax rate increases, investigate historical sales data and/or obtain an appraisal.

More Definitions of Equalized Value

Equalized Value means with respect to any Property, either (i) the equalized value for such Property as provided by the applicable municipality, or (ii) in the event that the value set forth in the preceding clause (i) is not provided by the applicable municipality, “Equalized Value” shall mean an amount equal to the product of (i) the value of such Property as assessed by the applicable taxing authority (or such other value or methodology used by the applicable jurisdiction to value Properties) and (ii) the Equalization Ratio, in any case, as of the date such Eligible Asset was acquired by an Eligible Asset Owner.

Equalized Value means the assessed value of the property in the year that the transfer is made, divided by the Director’s Ratio. The Table of Equalized Valuations is promulgated annually on or before October 1 in each year pursuant to N.J.S.A. 54:1-35.1. Example: Assessed value = $1,000,000; Director’s Ratio = 80%. $1,000,000 ÷ .80 = $1,250,000. If Director’s Ratio is less than 100%, the equalized value will be an amount greater than the assessed value, if Director’s Ratio is in excess of 100%, the assessed value will be equal to the equalized value. When calculating equalized value for item(C) as shown on front portion of this form, aggregate assessed values by property class.

Equalized Value means the assessed value as of January 1, 2017, as provided by county assessors on April 1, 2018, divided by the real and personal property ratio for that county for property taxes levied for collection in 2018.

Equalized Value means the value that has been certified to the Pierce County assessor-treasurer under RCW 84.12.370, following apportionment to the counties under RCW 84.12.350 and 84.12.360, upon which the state and its taxing districts impose their levies, and that is in a public report made available by the Washington State Department of Revenue.